Rockwell to Sell Power Systems Unit; Deal to Let Company Focus On Software, New Technologies

Summary

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Rockwell Automation Inc. is selling its division that makes electric motors, bearings and gears for $1.8 billion, a move that the company said would allow it to focus more on software and new technologies.

Executives at the Milwaukee company said they've reached an agreement to sell the power systems division to Baldor Electric Co., whose electric motors are used to run conveyor belts and a wide variety of machines.

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Extract

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Rockwell to Sell Power Systems Unit; Deal to Let Company Focus On Software, New Technologies

The company in Fort Smith, Ark., is to pay $1.75 billion in cash and about $50 million in stock for the division, which sells its products under the Reliance Electric and Dodge brand names. The two brands are Rockwell's oldest businesses, having been in prod...

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